ESPOO, FINLAND: Nokia’s Board of Directors has appointed Pekka Lundmark as President and Chief Executive Officer of Nokia. Lundmark is expected to start in his new role on September 1, 2020. Lundmark is currently President and CEO of Fortum, a leading energy company based in Espoo, Finland, where he consistently delivered robust total shareholder returns,…
Gamma Communications acquires Exactive Holdings Limited
LONDON: Gamma Communications, a leading technology-based provider of communications services to business markets in the UK and the Netherlands, is pleased to announce that it has acquired Exactive Holdings Limited Consideration for the acquisition consists of initial consideration of cash and Gamma shares paid on completion of £4.5 million with a deferred contingent consideration of…
Air Partner delivers integrated solution for UK Foreign & Commonwealth Office
LONDON: Air Partner plc, the global aviation services group, has once again worked alongside the Foreign and Commonwealth Office (FCO) to deliver a unique, fully-integrated and holistic solution for the evacuation and repatriation of UK and Irish nationals onboard the cruise ship quarantined off the coast of Yokohama in Japan. The project was complex, challenging…
Saudi Aramco’s proposed acquisition of 70% stake in SABIC cleared from European Commission
DHAHRAN: Saudi Aramco has announced that its proposed acquisition of a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia (PIF) has received unconditional clearance from the European Commission. With this, the proposed acquisition has now received unconditional clearance in all jurisdictions in which pre-notification antitrust filings…
Kainos acquires Intuitive Technologies
LONDON: Kainos Group, a UK-based provider of digital services and platforms, has announced the acquisition of Intuitive Technologies LLC, a trusted advisor in the areas of financial consolidation, budgeting, planning, forecasting, reporting and accounting solutions. The terms of the acquisition have not been disclosed. Founded in 2010 and headquartered in Denver, Colorado, IntuitiveTEK has a…
Tata Motors’ sales decline 32% in February 2020
MUMBAI: Tata Motors Limited announced its sales in the domestic and international market, for the month of February 2020, which stood at 40,634 vehicles, compared to 60,151 units during February 2019. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Commercial vehicle domestic sales in February 2020 was 35% lower than last year….
Al Salam Bank and Bin Faqeeh ink property finance agreement
MANAMA, BAHRAIN: Al Salam Bank-Bahrain has signed a Memorandum of Understanding with Bin Faqeeh Real Estate Investment Company to offer its competitive property financing facility for buyers of the Alsidra development at Diyar Al Muharraq. The family-oriented gated community comprises of 452 luxury villas with two to five bedrooms set in lush green gardens with…
Sistema launches start-up fund Sistema SmartTech
MOSCOW: Sistema PJSFC, a Russian publicly-traded diversified holding company, announced the launch of Sistema SmartTech, a fund aimed at supporting early-stage and start-up companies from seed investment to Series A funding. The Fund’s target size is expected to be RUB 5 billion, with up to RUB 1.5bn investment from Sistema. In addition to Sistema, which…
US Solar Fund enters exclusivity to acquire 61 MW solar portfolio
PORTLAND: US Solar Fund has entered exclusivity with Southern Current LLC, a leading US solar developer, to acquire an approximately 61 MW utility-scale solar power portfolio consisting of four in-construction projects located in Oregon. Construction of the Southern Current Portfolio is well-progressed and all projects have long-term power purchase agreements (PPA) with an investment-grade offtaker….
BATM develops diagnostics kit for COVID-19
LONDON: BATM Advanced Communications, a leading provider of real-time technologies for networking solutions and medical laboratory systems, announced that its Bio-Medical division has successfully developed a new diagnostics kit to detect COVID-19. Additionally, this kit has undergone testing by several central laboratories and hospitals that have now verified its ability to diagnose COVID-19. The Group…
Attraqt becomes BigCommerce Technology Partner
LONDON: Attraqt Group plc has been named a BigCommerce Technology Partner, providing more than 60,000 BigCommerce customers with access to Attraqt’s experience orchestration platform which enables retailers to implement highly relevant, cross-channel search, merchandising and personalisation capabilities at scale. BigCommerce provides a robust eCommerce solution that handles all of the transactional elements of the shopper…
Riverstone sells investment in Aleph to Vista Oil and Gas for $23.5mn
LONDON: Riverstone International Limited, the Manager of Riverstone Energy Limited (REL), has agreed to wind down its investment in Aleph Midstream through a sale to Vista Oil and Gas, S.A.B. de CV. REL is expected to receive $23.5 million in proceeds through a return of its invested capital at a 1.0x Gross MOIC. The transaction…